Income tax book for beekeeping?

[Michael Bush]

Does anyone know of a good book on income taxes for Beekeeping?

I spent a lot of money this year and plan on actually spending more next year and hopefully make a profit the year after that. Up until now it's just been a hobby. I'd like to know things like how long to depreciate equipment for etc.

[thesurveyor]

Good ?

I have spent enough to count toward a tax deduction. I would be interested in getting a book also.

Thanks
Thesurveyor

[dharbert]

As a tax preparer, I would recommend getting Pub 17 from the IRS. It will help you in learning what expenses are allowed and what isn't. You can also go to www.irs.gov and get a lot of help. There are a lot of things you can deduct that we just forget. I have never see a book on beekeeping solely. Maybe I should write one in my spare time. HA HA HA

[Michael Bush]

I will check that out. I have been self emplyed off and on all my life. So I have been filing various business forms (Shcedules A, B, C SE etc.) When I got into rasing horses I bought a book just for taxes for horse breeding operations. There are some standards as to how long to depreciate certain things in that business and other little oddities that the IRS has come up with down through the years. I was hoping to simplify some of those kinds of things by having a guide for them.

[dharbert]

Michael,

You have me thinking, I wonder if there would be any interest in a guidebook for beekeepers? Maybe not only on taxes but maybe combining it with recordkeeping? Any thoughts out there?

[Michael Bush]

I don't know how large the market would be, but I'm sure there would be some interest in it. Personally I just want to know some standards like how long do you depreciate an extractor, a hive etc.

M

[dharbert]

Most small farm equip can be depr. in 5 years.